Low Value Purchasing Procedures Upper Limit £1,000
05 June 2014
Procedure Flow Diagram All purchases, whatever the value, should be made in accordance with Procurement Guidelines. The following procedures relate to the purchases of goods and services that have a transaction upper limit of £1,000 excluding VAT.
Procedure Flow Diagram
All purchases, whatever the value, should be made in accordance with Procurement Guidelines. The following procedures relate to the purchases of goods and services that have a transaction upper limit of £1,000 excluding VAT.
3 Non CPC LVP can only be signed off by budget holder with an authorised threshold of £5,000 excluding VAT. Budget holder that wishes to set a lower authorisation level should manage that process locally, within their own Faculty/ Support Service.
6 If goods/services are required that have a greater value than £1,000 please refer to Financial Thresholds related documents below.
7 A log sheet must be kept for all non CPC purchases (in addition to any other Faculty or Support Services requirements) with the following information included:
8 Faculty or Support Service Reference (log) number in the format of a short (three to five) letter description of the Faculty or Support Service e.g. AIBS followed by a sequential number.
- Supplier Name.
- Date of purchase.
- Description of goods/ services ordered.
- Quantity ordered.
- Nominal Code.
- Pricing excluding VAT.
- Total price including VAT.
- Date goods received.
- Date of invoice.
- Date Authorised and invoice sent to Financial Services as per paragraph 9.1.4.
8 On receipt of the supplier’s invoice the requisitioner should check that goods/ service have been received, are “fit for purpose”, and the price is correct.
9.1.1 Non-CPC purchases: On receipt of a supplier’s invoice (addressed appropriately to Anglia Ruskin University or subsidiary Company) should be stamped with the designated “LVP” stamp recording the information requested.
9.1.2 The “goods/service received” box should be signed and dated by the requisitioner. This confirms that the purchase has been completed, and that the invoice is correct.
9.1.3 The invoice, must be signed by an authorised signatory for the cost centre(s) values. Both the supplier’s invoice for the non CPC purchases, and logs must be signed.
9.1.4 The authorised supplier’s invoice should then be forwarded to Financial Services, without delay.
9.1.5 Financial Services will enter the supplier’s invoiced directly onto the purchase ledger. The Faculty or Support Service (log) reference will be entered in the “Internal Reference” field and will be paid on the next available BACs or cheque run after 30 days have elapsed form the invoice date, except where “Cash With Order (CWO)” has been requested.
9.1.6 The requisitioner should retain a record of past logs as per Financial Regulations.
9.2.1 Cash with Order: For non CPC- purchase, where the supplier requests payment with an order, then a pro forma invoice, a booking form or an order form from a publication will be required
9.2.2 In all cases it must show the payee, the full address and the full amount of the payment. The invoice should be copied and the original stamped with the “LVP stamp” and authorised as normal.
220.127.116.11 The log should be completed as normal but the Goods Received Box must be marked CWO until the goods or service have been received. Once received the Goods Received Box should be completed with the date of receipt.
9.2.3 The original invoice will be sent with the payment.
For other transactions values please refer to the following areas: